Pre-engineered Buildings Market worth $25.0 billion by 2024

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Pre-engineered Buildings Market worth 25.0
billion by 2024

The report "Pre-engineered Buildings Market by
Structure (Single-story, Multi-story),
Application (Warehouses industrial,
Infrastructure, Commercial), Region (North
America, Asia Pacific, Europe, South America,
Middle East Africa) - Global Forecast to
2024" The pre-engineered buildings market is
projected to reach USD 25.0 billion by 2024, at a
CAGR of 11.5 from 2019. Factors such as rapid
industrialization, growth in the infrastructural
investments, an increase in the use of steel in
building construction, and rising demand for
sustainable buildings drive the pre-engineered
buildings market.
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Recent Developments

• In March 2019, Nucor Corporation has planned to
  expand its steel plate production capacity by
  building a steel plate mill in Brandenburg, KY,
  US. The company has planned an investment of USD
  1.35 billion in the mill. This mill has a planned
  production capacity of 1.2 million tons of steel
  products per annum. This is expected to
  strengthen the companys steel plate product
  portfolio, which is further expected to support
  its pre-engineered buildings production, as steel
  plates are used as a raw material to manufacture
  pre-engineered buildings.
• In August 2017, Zamil Steel Pre-engineered
  Building Company signed a contract with Agility
  Kuwait to build four air-conditioned warehouses
  in Mina Abdullah, Kuwait. This contract was
  valued at USD 6.7 million. Under this contract,
  the company would provide 4,600 metric tons of
  pre-engineered steel buildings and over 100,000
  square meters of sandwich panels.

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Key Participants
The key players operating in the pre-engineered
buildings market include BlueScope Steel
(Australia), NCI Building Systems (US), Nucor
Corporation (US), Kirby Building Systems
(Kuwait), Zamil Steel Holding Company (Saudi
Arabia), ATCO (Canada), Lindab Group (Sweden),
PEBS Pennar (India), PEB Steel Buildings
(Vietnam), and Everest Industries (India). Nucor
Corporations (US) strong business portfolio,
coupled with its focus on innovative
technologies, contributes to its significant
position in the pre-engineered buildings market.
Its strong foothold boosts its market position
globally. The company continues to target
opportunities in emerging countries, such as
India and China, to take advantage of the rising
disposable income of consumers in these potential
economies.
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On The Basis Of Region
Asia Pacific accounted for the largest share in
2018 and is also projected to record the highest
growth rate during the forecast period. The
growth in the Asia Pacific region can be
attributed to the increasing demand for
pre-engineered buildings from the growing
non-residential construction and infrastructural
development in the region. The major demand for
pre-engineered buildings in the region is
contributed by India and China, owing to the
growing population, economic growth, government
investments, and demand for low-cost green
buildings. Furthermore, foreign investors are
setting up their factories and distribution
centers in the developing countries of Asia
Pacific owing to cheap labor, trade
liberalization, and favorable government
policies, further boosting the pre-engineered
buildings market growth. This acts as an
opportunity for the pre-engineered buildings
manufacturers and suppliers.
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